Time to choose: Fiscal union or euro break-up August 14, 2011 IT’S all getting a bit Cheryl and Ashley Cole in the Eurozone recently. To quote Cheryl’s no.1 hit, the EU seems to think that “if it’s worth having, it’s worth fighting for”. Well, I beg to differ. If you’re in a situation that clearly doesn’t work, then get out and don’t look back. Even after [...]
Jackson sets up private jet firm August 14, 2011 CLIVE Jackson, the serial entrepreneur behind digital marketing firms including Autotorq and Global Reach, has launched a private jet-share business, which aims to make luxury travel more accessible to the wider market. Victor, the new jet broking business, allows members to book spare seats on private flights already chartered by other travellers through its website. [...]
Pension deficit troubles Hachette August 14, 2011 THE UK’S biggest book publisher is taking steps to address a £35m pension black hole and could see some of its top editors leave in the process. Hachette is closing its remaining final salary pension schemes to new accruals this autumn, affecting some 250 long-serving workers. Negotiations are understood to have dragged, with sources suggesting [...]
Magic Circle law firms rule UK’s top 100 August 14, 2011 TOTAL revenues at the UK’s top 100 law firms hit £14.27bn in 2010-11, a four per cent increase from the previous year and a return to growth after declining turnovers since 2008. Profit at the biggest firms hit £4.3bn – also up four per cent from the £4.15bn in 2009-10, while the overall profit margin [...]
King of Shaves valued at £25m August 14, 2011 SHAVING paraphernalia firm King of Shaves has been valued at almost £25m after selling an increased stake to Japanese investor Kai Industries. The blade manufacturer tripled its holding from seven per cent to 21 per cent, according to the Sunday Telegraph. Kai and King of Shaves have had a successful relationship in the past, with [...]
Travelodge eyes National Parks August 14, 2011 BUDGET hotel chain Travelodge yesterday announced plans to open 37 hotels near to the UK’s 15 national parks in a £135m expansion drive The group, which currently has 475 hotels in the UK, Ireland and Spain, said the move came in response to high customer demand for hotels close to the UK’s top rural locations. [...]
The City will tighten security – inside and out August 14, 2011 WITH rioting spreading throughout the country last week, a number of other significant stories were relegated to the back the newspapers. There is no doubt that in any other week a ban on short-selling in four major European countries and the downgrading of the United States’ credit rating after months of political brinksmanship would have [...]
China’s Dongfang Shipbuilding plans AIM listing this week to boost Europe appeal August 14, 2011 DONGFANG Shipbuilding will list on the AIM market later this week in a bid to boost its European profile. The Chinese firm will not initially raise new funds through the listing, although finance director AKM Ismail told City A.M. this will be a consideration in the coming months. Around 29 per cent of the firm’s [...]
Kuwait’s Agility sees its second quarter profits fall 57 per cent August 14, 2011 KUWAIT’S Agility, the logistics firm facing US fraud charges, posted a 57 per cent drop in second-quarter net profit, but still slightly beat forecasts. Net profit in the last three months was 7.83m dinars (£17.6m), the company said in a statement, down from 18.09m dinars a year earlier. Analysts had forecast Agility’s second-quarter earnings would [...]
Don’t take freight – reduce, rethink and retime August 14, 2011 Q&A: LONDON 2012 TIME TO GET READY Q. WE ARE BASED IN THE CITY, AND WE USE A NUMBER OF FREIGHT SUPPLIERS TO DELIVER PERISHABLE GOODS TO OUR OFFICE EACH DAY. WE HAVE LIMITED STORAGE SPACE, SO WHAT ARE OUR OPTIONS? A. The City is a hotspot, and deliveries to this area are likely to [...]
